Managing risk, legal spend and the internal client: What are your priorities for 2012?

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Brianna Mitchell
8 years ago
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Informal Facilitated Discussion: Jim Holding, Partner, Brisbane

1 Managing risk, legal spend and the internal client: What are your priorities for 2012? Informal Facilitated Discussion: Jim Holding, Partner, Brisbane WIN: What in-house lawyers need Knowledge, support and networking for the in-house lawyer community

2 In-house counsel priorities for 2012 In January 2012 DLA Piper Australia undertook a survey of legal counsel across the private and government sectors to seek their views on the trends and challenges they expected to face in Here s what they said...

3 Biggest challenges for 2012? 70.00% 60.00% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00%

4 What keeps legal counsel awake at night? Legal and risk issues Workload and team issues Budgets and profitability

5 What keeps legal counsel awake at night? Legal and risk issues Balancing competing demands from the businesses Managing risk across the business Lack of document trail and correct documentation when legal documents are handled by business teams Ineffective regulation Delivering large change agenda arising from Legal Blueprint without impacting business as usual delivery Keeping on top of changes to the law regarding my business Being seen by the business as a hurdle or a blocker, as opposed to a valuable contributor. Litigation

6 What keeps legal counsel awake at night? Workload and team Volume of work Getting all necessary work done to a high standard in the available time In-house resources and difficulty in recruiting staff Competitor Poaching Loss of knowledge of key events when individuals leave the business Insufficient staff and budget for external resources to meet company demand for legal support. Managing increasing volume of unreasonable demands of the board Maintaining team moral under work pressures

7 What keeps legal counsel awake at night? Budgets and profitability Budgets Controlling legal spend Factors required to drive growth Cost control Difficulty in persuading the business to spend money on external lawyers when I consider it necessary Profitability

8 And for the lucky few...

9 Your opinion of the hourly rate

10 If I had more hours in the day, my top work related priority would be... 40% 35% 30% 25% 20% 15% 10% 5% 0% Increase knowledge of the business Spend more time training the legal team Spend more time training the commercial teams Develop better toolkits and internal materials Increase legal knowledge Take more time on current work Spend more time building relationships with other inhouse counsel Spend more time networking with external counsel

11 Qualities you value most in your external advisors Technical excellence (60%) Depth of business & sector knowledge (63%) Cost effective services (66%)

12 What annoys you most when working with external counsel 35% 30% 25% 20% 15% 10% 5% 0%

13 Do you feel valued by the Board / Senior Management?

14 What would improve your standing with the Board / Senior Management

15 WIN: WHAT IN-HOUSE LAWYERS NEED What's next for WIN? WIN: What in-house lawyers need Knowledge, support and networking for the in-house lawyer community

16 What in-house lawyers want Chance to hear practical advice/experience under Chatham House rules 2. Training on legal topics 3. Availability of knowhow and value add materials 4. Opportunity to network with other in-house counsel

17 About WIN The three main pillars of WIN are to provide: Knowledge: deliver information that is targeted, relevant and covers key business issues as well as legal topics Support: listen to our clients to identify the key legal and commercial issues they face and tailor our services accordingly Networking: create an opportunity to share practical experience with other in-house lawyers

18 WIN: What In-House Lawyers Need Advisory Group Win Wise Interactive Website Networking events

19 WIN Website Tailored information Personal library Best practice guides Discussion forum Events and training Register a

20 What's next for WIN? Client Advisory Group Client advisory sessions and events where we listen to what you want from WIN WIN Wise Practical briefings on key topics effecting your role Events In-house Counsel Day Junior Counsel Events: From Junior Counsel to General Counsel"

21 Thank you WIN: What in-house lawyers need Knowledge, support and networking for the in-house lawyer community

How To Manage An In House Legal Team

How To Manage An In House Legal Team December 2014 A Guide for General Counsel Structuring your legal team contents: THE TEAM 03 THE STRUCTURE 04 RISK AND COMPLIANCE 07 LEVEL AND NATURE OF OUTSOURCING 08 FUNCTIONS 09 SUPPORT SERVICES 10 CONCLUSION